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'll get the analyst behind that call ahead. >> also the sequester effect on travel. >> faa employee furloughs and our major airport delays and all in the future and former department of transportation inspector mary shafo live. another monday morning, david, in which you've propelled a major dow component, microsoft up over 4% on the news that an activist shareholder is buying a $2 billion stake. so i think by my calculations you've created on that report about $2.5 billion of value so far this monday morning. >> simon, it's the value being created by the news itself, not the fact that i've reported it and we've been able to tell people that value act, large activist fund that often does take large positions in companies and actually doesn't get active if things go their way have taken a $2 billion position. on a relative bases it's 1% or less than 1% overall is what it would amount to of the outstanding shares of microsoft. that being said, valueact does have a history of holding stakes for quite some period of time, monitoring those companies and their managements and then getting
. a couple thoughts on this. one is faa knew this was coming for two years, had a long time plan, bat and you're seeing is controllers are being laid off at the same rate for the big facilities, as they are for the smaller ones. you think faa would say, let's see where most of the people or traveling and keep those fully staffed and be a little more surgical on the smaller airports. >> shepard: sounds like a lot of this is politics. >> does seem rather odd but i don't see the controllers behind it but the administration wants to make sure everybody feels the pain here. >> does that seem understandable to you? >> not real ly. it doesn't. this is one of our great assets in this country, the ability to move across the country, and yet the government is getting in the way of this to prove a political point. we have seen the faa budget for controllers rise 50%, and traffic is down 27%. so we're throwing more money to handle less of a problem, yet now is the time we chose to start making the american people feel the pain? it just doesn't make sense. >> shepard: the american people are already feeli
: sequester is faa starting air traffic controller furloughs yesterday it has been warning for months this day would becoming. and delays would follow, so far it is pretty. the usual havoc and delays. you would not know it looking at headline, main street media, airline and flight sshools sinker ravel guru mark murphy said that administration is manufacturing this mess. he does not deny the lines but deny so call reasons. >> i think it just forced, they want it to be difficult, it there is no reason. are we spending more money this year than last year, are we not going to spend a trillion more in 2013, than we spent in 2007. neil: faa has a higher budget this year than last year, i having said that, what is in it for them, if you think about. everything i think trickles down to the president good or bad. >> a few months they played the hand it was a disaster, they walked it back, they saw of it not a disaster we just slowing increase in spending. neil: your facts are dead obut these cuts would be rolled in this is latest more come ing on the travelling, you say it is a nightmare because there
: the faa releasing a statement saying it will quote, be working with the airlines and using a comprehensive set of air traffic management tools to minimize the delays and impacts of lower staffing as we move into the busy summer season. do you find that reassuring? i'm not sure i do. good morning stuart. stuart varney from the fox business network. stuart couldn't we move money over from consultants and grants to help folks out in the control tower? >> let me spell out what we're talking about. $500 million this year for consultants. $474 million in wrapts grants to make communities more liveable and sustainable. obvious, question, martha, take some money out of the consultants bucket and put it into air traffic controlsers bucket to avoid delays. president says can't do that. i don't have the flexibility to target nonessentials. can't do it. so the republicans introduced a bill that would specifically give the president that flexibility, to avoid this pain. he threatened to veto it. that's where we stand this morning. more cuts are coming. more delays are coming. the president does not wan
at the airport. the f.a.a. imposing furloughs on thousands of employees. those cuts are being blamed on sequester. guess what? delays, delays, delays. >>steve: with fewer workers responsible for the same number of planes that means you're going to have to wait. here now stuart varney, we're not going to make him wait. the scare quester didn't work. now what they're trying to do is inflict pain. people are going to sit on planes, they're going to call their congressmen. "you've got to do something about it! " >> that's right. quick pop quiz. did you know the f.a.a., the people who run the air traffic system, this year they will spend $500 million on consultants, $325 million on supplies and travel, $474 million on grants to make communities more livable and sustainable. >>steve: are you saying there's money available where they don't have to furlough those guys? >> exactly. why don't you take some of that money and put it into the air traffic controllers' bucket so we don't have to have these delays? because the president says we don't have the flexibility. we cannot redirect spending. not allowed
cuts. that led to delays for nent minutes of arriving flights, that's about 10% of the faa's air traffic controlling work force were required to take an unpaid day off on monday. additional furloughs of tsa workers also lead to peak hour backups at security checkpoints. >>> sticking with airport security the tsa is postponing a rule change that would allow passengers to carry small knives on planes. the change is facing strong opposition from flight attendant and the air marshalls. the policy is being delayed so passengers, advocates and law enforcement experts can weigh in. the tsa plan to allow knives with small blades on planes starting this thursday. it would have been the first time they would have been back on passenger planes since september 11th, 2001. >>> new york city at it again. it may become the biggest city in america to raise the legal age for buying cigarettes to 21. the city already opposes the highest cigarette taxes in the country. it also bans smoking in bars, parks and beaches while launching graphic advertising campaigns about the hazards of smoking. smokers
travel season. delays at laguardia, newark, charlotte. the faa on monday blamed staffing and weather and says staffing challenges at regional centers led to ground delays and more spacing between flights around the country. it's the first time the public has felt the impact of across the board budget cuts from the sequester. >> it's already bad enough when they have their regular delays so i can't imagine being stuck here for three hours and not knowing what's going to be next. >> in certain places i believe cutbacks should not be happening. >> i think it's horrible. there's enough problems dealing with delays and security and weather and other things when you're flying. i think they should furlough the president and congress. >> reporter: the faa claims it had no choice but to put 15,000 controllers on unpaid furloughs, which means 10% fewer of them working each day. the agency said that could mean delays of 3 1/2 hours in atlanta, more than 2 hours in chicago, and 1:20 in laguardia. the airlines are furious and argue there are other places to cut. >> the air traffic controllers hav
Search Results 0 to 7 of about 8 (some duplicates have been removed)

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